The trade price of Ethereum showed a significant increase compared to Bitcoin, as two major development proposals were suggested by its co-founder, Vitalik Buterin.
The current trade price of Ethereum (ETH) is $2,631, which is 7.85% higher over the last 24-hour period.
The current trade price of Ethereum is $2,638 pic.twitter.com/Xst8yB3dNU
— Bitcoinik (@Bitcoinikdotcom) October 14, 2024
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Most of the change in Ethereum’s trade price took place within the last 12 hours.
Vitalik Buterin proposes two new developments
Today, Ethereum’s core co-founder Vitalik Buterin proposed two key changes through a new article.
In the article, Vitalik discussed improvements to Ethereum’s Proof of Stake (PoS) system, suggesting two main updates. First, he aims to make block confirmations happen in a single slot, meaning transactions would be finalised faster. Second, he wants to make staking more accessible by lowering the staking requirement to just 1 ETH. To achieve these, he proposed three solutions: improving how signatures are aggregated, introducing a new group of validators called the Orbit committee, and implementing a two-level staking system.
In short, Vitalik’s proposals focus on speeding up transaction confirmation and allowing people to participate in staking with just 1 ETH.
Vitalik offloads a large amount of meme coins for Ethereum
On October 13, 2024, Vitalik sold a large amount of memecoins, receiving 257.1 ETH ($636K). On the same day, he also sold another eight meme tokens, securing 651.4 ETH ($1.61M).
According to reports, Vitalik sold these meme tokens solely for making donations.
This year, Vitalik faced huge criticism from ETH investors, who slammed him for selling a large amount of ETH coins. Later, Vitalik clarified that he never sold a penny from his personal ETH holdings.
Read also: Bitcoin Bull MicroStrategy’s Saylor Offers Free “Bitcoin Crash Course”
Ethereum (ETH) pumps 8% following Vitalik’s two new proposals announcement
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